Football League and HMRC play hardball over Leeds' lack of a CVA, as the start of the season looms
Accountancy Age, 03 Aug 2007
Leeds United is facing a battle to enter the Football League prior to the start of the season.
The football club is trying to persuade the Football League to let it enter, but the League is still calling on the club to go into a Company Voluntary Arrangement.
'We have got to resolve it soon because the season starts in nine days' time,' said Football League chairman Lord Mawhinney.
HM Revenue & Customs director general Dave Hartnett said in the Guardian that the taxman would not enter into any type of arrangement 'that lacks complete transparency about the identity of creditors and the terms of any deal being reached .'
The club has finally been sold to Ken bates in a deal that could give creditors as much as 52p in the pound if the club is promoted to the Premiership in the future. A key creditor, Astor, a company that claimed no connection with Ken Bates, withdrew its claim for £17.6m owed to it.
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